IRIDEX Corporation (NASDAQ:IRIX) Short Interest Update

IRIDEX Corporation (NASDAQ:IRIX) was the recipient of a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 73,137 shares, a decline of 46.9% from the January 29th total of 137,748 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 67,226 shares, the short-interest ratio is currently 1.1 days. Based on an average daily trading volume, of 67,226 shares, the short-interest ratio is currently 1.1 days. Currently, 0.5% of the company’s shares are short sold.

IRIDEX Stock Down 4.1%

IRIDEX stock traded down $0.06 during mid-day trading on Friday, reaching $1.40. 43,923 shares of the company’s stock were exchanged, compared to its average volume of 58,321. The company has a quick ratio of 1.35, a current ratio of 1.94 and a debt-to-equity ratio of 62.29. IRIDEX has a twelve month low of $0.78 and a twelve month high of $1.65. The company has a market cap of $24.07 million, a P/E ratio of -4.67 and a beta of 0.70. The company has a fifty day moving average of $1.36 and a 200-day moving average of $1.19.

Institutional Trading of IRIDEX

Large investors have recently made changes to their positions in the company. Weber Capital Management LLC ADV purchased a new position in IRIDEX in the fourth quarter worth approximately $296,000. Thompson Davis & CO. Inc. purchased a new stake in shares of IRIDEX in the 2nd quarter valued at approximately $50,000. Citadel Advisors LLC raised its holdings in shares of IRIDEX by 62.7% in the 3rd quarter. Citadel Advisors LLC now owns 109,473 shares of the medical equipment provider’s stock valued at $126,000 after purchasing an additional 42,202 shares in the last quarter. Apexium Financial LP lifted its position in shares of IRIDEX by 53.0% during the 3rd quarter. Apexium Financial LP now owns 100,529 shares of the medical equipment provider’s stock worth $116,000 after purchasing an additional 34,834 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its position in shares of IRIDEX by 46.2% during the 3rd quarter. Susquehanna International Group LLP now owns 56,470 shares of the medical equipment provider’s stock worth $65,000 after purchasing an additional 17,834 shares during the last quarter. 20.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on IRIX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IRIDEX in a research note on Monday, December 29th. iA Financial set a $3.00 price objective on shares of IRIDEX in a report on Thursday, February 5th. Finally, Alliance Global Partners assumed coverage on shares of IRIDEX in a research report on Thursday, February 5th. They set a “buy” rating for the company. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, IRIDEX has an average rating of “Hold” and a consensus price target of $3.00.

IRIDEX Company Profile

IRIDEX Corporation (NASDAQ: IRIX) is a medical technology company specializing in the development, manufacturing and commercialization of innovative ophthalmic laser and imaging systems. The company’s offerings focus on energy-based therapies designed to treat retinal vascular disorders, glaucoma and other ocular conditions. IRIDEX’s portfolio includes laser photocoagulation platforms, micro-pulse laser technology, and related consumable devices for use by ophthalmologists and retina specialists.

The company’s flagship products include the Cyclo G6 Glaucoma Laser System, which delivers precise, controlled micro-pulse laser therapy for patients with refractory glaucoma, and the IQ 532 Retina Laser System, designed to support minimally invasive laser treatments for diabetic retinopathy and age-related macular degeneration.